US dollar holds a thin higher low From yesterday morning’s post on USD… “Here is the daily chart’s story. USD (DXY) needs to hold above the February low of 89.68 in order to keep any semblance of the 2021 uptrend in play.” Well, Unc took it to heart and held serve before putting on a bounce today amid inflation signals in the economy, hysterics in … Continue reading Uncle Buck keeps a semblance of the 2021 uptrend in play
SPX was overbought and no longer is as it makes a thus far normal pullback From NFTRH 654… Last week (NFTRH 653): “Who can predict? It’s been over a year now that the thing to be has been bullish, despite the periodic jitters cropping up along the way. This easing of momentum could just resolve in another little blip (FOMC and the havoc it creates … Continue reading As yet, a moderate and normal correction in SPX
Much like HUI has hit target (305-307) so has gold, having arrived at near the channel top and 200 day moving average. It’s clear that this is a potential limit area, technically. If you are a trader and had originally set this as the goal, well, the trade is done. Beyond that, I will not make predictions other than gold is vulnerable to pullback now … Continue reading NFTRH+; the Technical Situation in Gold
The Gold/SPX ratio continues its way upward, after breaking above the SMA 50. Here’s the larger view for more perspective. As yet, considering all that resistance traffic above it is a macro indicator that shows this month’s darkening, but not yet conclusively the end of, the stock market rally. As a side note, I am watching Semiconductors closely (SOX is on the verge of a … Continue reading NFTRH+; The Hint Continues to Evolve
30-year yield threatens to rise anew Here is the daily chart of the 30yr yield. Looks like a flag breaking out to me. By converting the above to a monthly view, we have our trusty Continuum chart. If this little hesitation (if you will) in yields and associated stock market pullback play out to the extent that the Continuum allows, there will be another thrust … Continue reading Continuum to… Continue?
This chart indicates ‘reflation (still) on’ So you see, sometimes a man stares at a chart and that same man sees what cannot be argued. * Man sees the following market ratios in the context of their post-March 2020 history. Historical fact: The hellish inflation conjured back then (see graphs below man’s chart) is still rooting in the economy, created by the Fed and cost-pushed … Continue reading Man Stares at Chart (and graphs), Sees the Truth